Real Estate During COVID 19

As the medical world is scrambling to find a cure (much more a vaccine) for COVID 19, the real estate industry likewise is facing its biggest challenge ever yet. And that is, “How to survive and manage in this time of the pandemic”. While everybody is trying to stay safe at home, everything else around is also on a temporary halt (who knows until when), unpleasant repercussions on business and economy are expected. 

Things have slowed down, but the future is not dim at all. Thanks to the internet! A lot of businesses have turned to digital platforms and resumed business as usual. And it isn’t a bad idea for realtors to do the same. While we have all yet to see the long-term effects of the COVID-19 outbreak to various business sectors, the effects may vary per market. For instance, while the housing industry remains slightly optimistic, the effects are far more damaging to the tourism sector, specifically rental and luxury properties. 

Undeniably, this pandemic will have huge impact on real estate businesses. However, there are still a lot of things that realtors can do to thrive, survive, and come out stronger once this pandemic is over. Here are some easy tips to help you continue to engage with your current clients while also attracting potential clients. 

Make use of social media

Do business while keeping a safe distance, and that’s the power that social media platforms can offer. Especially that most of us are at home, we spend much more time on Facebook or Instagram than usual. Take advantage of this time to attract would-be clientele and establish connections with prospect buyers. Also, keep your content coming! Make sure to give your current followers updates from time to time. Let them know that you are still alive and kicking. Also, be sure to have your inboxes manned so you can answer questions or concerns straightaway. 

Keep your blogs fresh and updated

In the online world, content is king. And because you can’t share that much information via social media platforms with imposed character limits, use your real estate blog to share the freshest news, tips and tricks and updates about real estate. Blogging doesn’t just solidify your position in the real estate market, it also helps you nurture your leads by regularly sharing your blog links on your social media pages. 

Improve your listings

This is to let your current and would-be clients know that you are active and that your listings are updated. Revisit your listings. Tweak and add more details if necessary. Again, now that the world is on unexpected pause, many spend more time on the web than usual. People still look at their dream retirement houses or fantasy honeymoon destination. Fresh and more vibrant images can capture more prospective buyers and so do catchy titles and awesome copy.

Stay updated on Digital Closings

As most business transactions have switched online these days, as a realtor, you also must update yourself on the latest real estate eClosing options available to you. Is it already available in your state? Knowing the state-by-state regulations when it comes to online real estate closings is imperative if you want to give accurate information and advice to your clients.

Consider virtual real estate tours

If you haven’t yet, consider adding them to your listings. This is really a helpful and smart move as a real estate agent especially that on-site tours are on hold.  Hiring a pro videographer and photographer is still doable if safety precautions are being done. 

With the above said, there’s no doubt that a real estate business can get through this crisis. This too shall pass! Take advantage of available resources. Stay creative and resourceful. Remember, people still buy and consume despite the lockdown. When we would have put all these behind, you will pat yourself on the back for having emerged wiser and stronger.